Europe's natural gas storage falls below 50%
Natural gas storage in Europe has dropped to approximately 49%.
The euro marks its 26th year amid economic challenges, with fluctuating value and new digital currency developments shaping its future across Europe and the global market.
The euro, now in its 26th year, faces challenging economic conditions in the eurozone.
Introduced in 1999 as a dematerialized currency for accounting and electronic payments, it became physical currency in 2002, used daily by 350 million people in 20 EU member states. The European Central Bank (ECB) oversees the monetary policy, aiming to control inflation below 2% by adjusting interest rates.
The euro, the world's second most significant currency after the US dollar, circulates in seven banknote denominations and various coins. The €500 note was discontinued in 2019 due to concerns over money laundering and terrorism.
While all EU countries, except Denmark, are required to adopt the euro if eligible, Croatia joined the eurozone in 2023, and Bulgaria is expected to follow.
The euro's value has fluctuated since its launch. After a drop to $0.83 in 2000, it reached $1.60 in 2008, but geopolitical tensions and global crises led to a 16% depreciation against the dollar in 2022.
Despite recovery in 2023, the euro faced pressure from various factors, including Donald Trump’s election win, and ended 2024 at $1.04, near the $1 parity last seen in the early 2000s.
Globally, the euro’s role has diminished, accounting for 19.76% of global reserves in 2024, down from 25% in 2003. Its share in global payments also declined to 22.9% by October 2024.
In response to changing financial landscapes, the ECB is developing a digital euro, expected to complement traditional currency and be available for public use. With a regulatory framework being established, a draft rulebook is anticipated in early 2025, offering a reliable and stable digital payment option across Europe.
The Sarandí stream in Buenos Aires, Argentina, turned bright red on Thursday for unknown reasons, raising concerns among authorities and residents. The waterway, which flows into the Río de la Plata, is under investigation to determine the cause.
Uzbekistan’s flag carrier has announced airline’s plan to purchase a dozen of aircrafts from Boeing and Airbus, marking a significant milestone in upgrading and expanding its fleet.
Azerbaijan has halted activities of “Russian House” in Baku according to local media reports on Thursday, following accusations of espionage. This is being described as an escalation of tensions between the two countries.
Elon Musk has called for the shutdown of Radio Free Europe/Radio Liberty (RFE/RL) and Voice of America (VOA), arguing that the U.S.-funded media outlets serve as government propaganda tools and waste taxpayer money.
A major fire erupted near Istanbul’s historic Spice Bazaar in the Eminonu district on Thursday, quickly spreading to nearby buildings. Emergency teams, including firefighters and medical personnel, were dispatched to control the blaze and ensure public safety.
BP CEO Murray Auchincloss pledged on Tuesday to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations.
Apple is reportedly working on a version of AirPods Pro with integrated cameras, set to launch as early as 2027, according to Bloomberg’s Mark Gurman. While the cameras won’t be featured in the upcoming AirPods Pro 3, the new tech aims to enhance AI-driven features and spatial audio integration.
U.S. President Donald Trump said on Sunday he will introduce 25% tariffs on all steel and aluminum imports into the United States, on top of existing metals duties, in another major escalation of his trade policy overhaul.
The year 2025 is shaping up to be a pivotal period for commercial lunar exploration, with half a dozen missions slated to launch over the coming months. These ventures, led by private companies under NASA’s Commercial Lunar Payload Services (CLPS) program, mark a significant expansion of commercial
Elon Musk and a group of investors have submitted a $97.4 billion bid to acquire OpenAI, the company behind ChatGPT. The offer was presented to OpenAI’s board on Monday, according to the Wall Street Journal.
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